Vice President or Director, FX/STIR Trading

BMO•Toronto, ON

2d•Onsite

About The Position

BMO Capital Markets is a leading, full-service North American-based financial services provider. This role provides a markets-based suite trading solution to Institutional, Corporate, and Retail clients, offering integrated capabilities for market insight, risk management, and execution services. The primary responsibility is to provide pricing in FX, Short-Term Interest Rates (STIR), and cross-currency basis for G10 currencies to FX and Rates sales teams across North America and Europe. The role requires strong proficiency in trading rates and FX, with depth of expertise in FX spot and forward markets. The core objective is to manage risk across all STIR, FX, and basis positions during NA trading hours, while delivering competitive pricing to sales teams to support and enhance the profitability of BMO’s FX business. The role aims to strengthen BMO’s market share and franchise with both regional and global clients in its core markets, while operating within established risk parameters. In addition, the position involves collaborating with and supporting colleagues across other offices and trading product groups, mentoring junior trading and sales staff, and contributing broadly to the continued development of BMO’s Global franchise. Operates as a key member of the deal team with efforts to maximize sector penetration and returns. Institutes cross-selling initiatives to increase ranking with clients. Uses expertise in financial markets to cultivate relationships with new and existing clients and develop new client relationships. Manages a trading book and is accountable for the risk, profit & loss and limits for the book. Builds positive client relations at all levels through a deep/comprehensive understanding of client needs and alignment of our products/services. Anticipates changes in client needs and provides strategic/creative solutions. Recognizes opportunities to cross-sell and to grow share of clients' wallet. Works closely with sales and research teams to provide seamless client coverage, including fulfilling client requests for market updates and providing clients with specific product information. Responds to inquiries from clients, regulatory agencies, or members of the business community in a professional manner and determines acceptable solutions. Develops and/or facilitates development of client-focused solutions based on financial expertise, organizational, technical, regulatory and environmental client awareness. Distills market and internal data to negotiate solutions, terms and conditions with clients / internal counterparts. Identifies and delivers on opportunities to improve the client experience; brings in partners where appropriate; delivers a full BMO experience. Uses analytical skills (probability, statistical inference, etc.) and applies appropriate technical concepts and completes/leads consistent and reliable technical and financial reports/analyses to support client deliverables. Develops an understanding of and proficiency in using all required systems and models. Operates within position and loss limits as prudent management of the Bank’s exposure. Manages risk related to pricing and sales/trading of the book. Identifies and acts on the delivery of meaningful revenue, cost reduction or capital optimization opportunities. Makes decisions based on a strong understanding of risks; effectively evaluates risk-return trade-offs, and proactively takes accountability for risks assumed. Considers risk, internal controls and compliance as part of day-to-day accountabilities and adheres to policies and procedures. Operates at a group/enterprise-wide level and serves as a specialist resource to senior leaders and stakeholders. Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to problems that can be complex and non-routine.

Requirements

Typically 5+ years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
Degree in Accounting/Economics/Mathematics/Statistics, CFA preferred.
Thorough knowledge of capital markets, pricing, and trading/hedging strategies and familiarity with a variety of the field’s concepts, practices and procedures and various capital markets products.
Strong understanding of trading procedures and broader regulatory and financial concepts.
Strong quantitative analysis, technology and financial analysis skills.
Strong risk management skills, fundamental analysis skills and leadership abilities.
Seasoned professional with a combination of education, experience and industry knowledge.
Verbal & written communication skills - In-depth / Expert.
Analytical and problem solving skills - In-depth / Expert.
Influence skills - In-depth / Expert.
Collaboration & team skills; with a focus on cross-group collaboration - In-depth / Expert.
Able to manage ambiguity.
Data driven decision making - In-depth / Expert.

Nice To Haves

CFA preferred.

Responsibilities

Provides a markets-based suite trading solution to Institutional, Corporate, and Retail clients.
Offers a full spectrum of integrated capabilities to deliver leading market insight, risk management, and execution services to issuing and/or investor clients, including access to major global markets across foreign exchange and interest rate.
Provides competitive pricing to all clients and seeks out new opportunities with prospective clients.
Maximizes profit while prudently minimizing the bank’s exposure and adhering to regulatory statutes.
Provide pricing in FX, Short-Term Interest Rates (STIR), and cross-currency basis for G10 currencies to FX and Rates sales teams across North America and Europe.
Manage risk across all STIR, FX, and basis positions during the NA trading hours, while delivering competitive pricing to sales teams to support and enhance the profitability of BMO’s FX business.
Strengthen BMO’s market share and franchise with both regional and global clients in its core markets, while operating within established risk parameters set by the Head of FX and STIR Trading.
Collaborate with and support colleagues across other offices and trading product groups.
Mentor junior trading and sales staff.
Contribute broadly to the continued development of BMO’s Global franchise.
Operate as key member of the deal team with efforts to maximize sector penetration and returns.
Institute cross-selling initiatives to increase ranking with client.
Use expertise in financial markets to cultivate relationships with new and existing clients and develop new client relationships.
Manage a trading book and is accountable for the risk, profit & loss and limits for the book.
Build positive client relations at all levels through deep/comprehensive understanding of client needs and alignment of our products/services.
Anticipate changes in client needs and provide strategic/creative solutions.
Recognize opportunities to cross-sell and to grow share of clients' wallet.
Work closely with sales and research teams to provide seamless client coverage including fulfilling client requests for market updates and providing clients with specific product information.
Respond to inquiries from clients, regulatory agencies, or members of the business community in a professional manner and determine acceptable solutions.
Develop and/or facilitate development of client-focused solutions based on financial expertise, organizational, technical, regulatory and environmental client awareness.
Distill market and internal data to negotiate solutions, terms and conditions with clients / internal counterparts.
Identify and deliver on opportunities to improve the client experience; bring in partners where appropriate; deliver a full BMO experience.
Use analytical skills (probability, statistical inference, etc.) and apply appropriate technical concepts and complete/lead consistent and reliable technical and financial reports/analyses to support client deliverables.
Develop an understanding of and proficiency in using all required systems and models.
Operate within position and loss limits as prudent management of the Bank’s exposure.
Manage risk related to pricing and sales/trading of the book.
Identify and act on the delivery of meaningful revenue, cost reduction or capital optimization opportunities.
Make decisions based on a strong understanding of risks; effectively evaluate risk-return trade-offs, and proactively take accountability for risks assumed.
Consider risk, internal controls and compliance as part of day-to-day accountabilities and adhere to policies and procedures.
Operate at a group/enterprise-wide level and serve as a specialist resource to senior leaders and stakeholders.
Apply expertise and think creatively to address unique or ambiguous situations and to find solutions to problems that can be complex and non-routine.